Ikigai founder and a former Point72 Asset Management executive, Travis Kling, called the recent Bitcoin price surge “nail in the coffin.” King made his remarks during an interview with Yahoo Finance on April 2. He said:

“The likelihood that we’re going to retest the lows of mid-December has materially diminished over the last seven weeks. And then, with the price action last night, I think it’s pretty safe to say that there’s about as close to a nail in the coffin as you can have in terms of feeling good about the bottom being in for this crypto market. Never say never, but it would take a massive shift in the appetite for risk assets globally for us to go retest the lows or make new lows for the crypto market now.”

Investors should exercise caution with altcoins

With the price of altcoins such as Binance Coin and Litecoin reaching highs of more than 200% and 100% respectively in the first quarter of 2019, more and more people consider investing in the coins. The recent price surge, however, comes with risks,…

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Source: https://thebitcoinnews.com/bitcoin-btc-surge-is-a-nail-in-the-coffin-says-crypto-insider/